VRT: Nov 240/280 call spread
Vertiv fell 5.6% on the week with the chip selloff and sits at 39% of its 52-week range, with implied vol in the 5th percentile. Microsoft and Alphabet both report Oct 28, and the cooling and power gear they order is what Vertiv sells; the Nov 240/280 spread costs about $12 on a $40 width against a 16% implied move.
- Ticker: VRT
- Direction: Bullish
- Risk profile: directional
- Confidence: medium
- Catalyst: Microsoft and Alphabet Q3 capex prints (2026-10-28)
- Cohort: 2026-10-13
- Expires: 2026-10-20
- Max loss: $12.00
- Max gain: $28.00
Structure
- long call 240 2026-11-20
- short call 280 2026-11-20
Signals
- Week change: -5.6% (DB)
- IV percentile (52w): 5 (DB)
- Linked AI builds: Oracle/OpenAI 1,200 MW, Anthropic 340 MW, CoreWeave 300 MW (DB)
- Own Q3 print: Third-party listing puts it Oct 20 (unconfirmed by Vertiv) (web_search (Bullstory))
What invalidates this thesis
A capex guide that holds flat at Microsoft or Alphabet, or a Vertiv margin miss, would keep the stock under the $252 breakeven.